27 Aug 2025

House of Hiranandani's Lightbridge IT park in Powai, Mumbai, has achieved the IGBC Platinum Rating, reflecting the company's commitment to sustainable commercial development. Spanning 6,00,000 sq. ft., Lightbridge integrates advanced energy-efficient systems, maximizes natural light, and provides a healthy workspace. Strategically located near metro lines and key urban infrastructure, it attracts multinational and Indian corporates alike. Hosting tenants such as CRISIL and WeWork, the building offers future-ready infrastructure, smart automation, and green landscapes. This project reinforces House of Hiranandani's reputation as a leader in sustainable, high-performance commercial developments.Read more

27 Aug 2025

Square Yards reported a 45 per cent increase in revenue to INR 378 crore for the June quarter, compared with INR 260 crore in the same period last year. EBITDA reached INR 4.4 crore, and gross profit rose to INR 70 crore. The company facilitated over 55,771 transactions with a Gross Transaction Value of INR 18,480 crore. Revenue growth was seen across real estate brokerage (36 per cent), financial services (60 per cent), and home renovation (21 per cent). CEO Tanuj Shori highlighted that the results demonstrate the strength of the company's operating model and the effectiveness of its diversified business approach.Read more

27 Aug 2025

BPCL is evaluating a greenfield refinery and petrochemical complex near Ramayapatnam Port in Andhra Pradesh to expand its refining and petrochemical capacity amid growing domestic energy demand. Pre-project activities are underway, with earlier estimates suggesting a 9 million tonnes per year unit costing around INR 95,000 crore. The company's Project Aspire aims to strengthen core operations in refining, petrochemicals, and renewables. BPCL currently operates three refineries, is upgrading Mumbai Refinery, and has ongoing petrochemical projects at Bina and Kochi. It is also developing renewable energy and green hydrogen projects, targeting net zero emissions by 2040.Read more

27 Aug 2025

PVR INOX, India's largest cinema exhibition company, has signed a 15-year lease for a 10-screen megaplex at the new Sky City Mall in Borivali, Mumbai. The company will pay a monthly rent of INR 91.42 lakh or a 20% share of its revenue, whichever is higher, and has paid a security deposit of INR 10.97 crore. The megaplex, which is part of a larger mixed-use development by Oberoi Realty, aims to reinforce Mumbai's position as a cornerstone market for the company and create a "lifestyle-centric experience" for modern audiences.Read more

26 Aug 2025

Sellwin Traders is acquiring a 60 per cent stake in US infrastructure company Shivam Contracting Inc through an equity deal, issuing shares at a minimum of INR 18 each. The USD 6 million (around INR 52 crore) investment will support current and future US projects, with fund repatriation expected within two years. Concurrently, STL is expanding in the Gulf IT market by planning a controlling stake acquisition in Dubai-based GMIIT, targeting more than 51 per cent equity. These strategic moves aim to strengthen STL's international presence while securing operational control in high-growth sectors.Read more

26 Aug 2025

NBCC Ltd has secured a contract to develop a 95-acre mixed-use project in Rajasthan, with an estimated investment of INR 3,700 crore. The project, approved by the state government, will feature the Rajasthan Mandapam Convention Centre with 7,500 seats, a GCC Tower, an IT Tower, luxury hotels, and commercial and residential spaces. Situated along the B2 Bypass on Tonk Road, NBCC will act as the lead agency managing design, construction, and marketing. This project highlights the company's continued focus on large-scale urban and infrastructure developments.Read more

26 Aug 2025

Shares of Reliance Power and Reliance Infrastructure hit lower circuit limits as investors reacted to recent CBI action against Reliance Communications over alleged bank fraud of INR 2,929.05 crore. Reliance Communications' shares also fell sharply. The investigating agency conducted searches at the company's official premises and Anil Ambani's residence. Both Reliance Power and Reliance Infrastructure clarified that they operate independently, have no financial or business connections with Reliance Communications, and Anil Ambani has not been part of their boards for years. The companies confirmed their operations and stakeholders remain unaffected.Read more

26 Aug 2025

Indian Hotels Company Ltd (IHCL) is looking at strategic acquisitions to expand its presence in key markets and enter new destinations in Europe and Southeast Asia. With a strong, zero-debt balance sheet and a cash balance of INR 3,073 crore, the company is well-positioned to pursue these opportunities. This move is part of IHCL's 'Accelerate 2030' strategy, which has set a target of over 700 hotels in its portfolio by 2030. The company's focus is on acquiring controlling stakes in smaller firms and integrating them into its midscale and boutique luxury segments, strengthening its global footprint without acquiring physical assets for its premium brand, Taj.Read more

26 Aug 2025

Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received approval from the Reserve Bank of India (RBI) to acquire a significant stake of up to 24.99% in India's Yes Bank. This deal, valued at approximately USD 1.6 billion, represents one of the largest foreign investments in the Indian banking sector. While SMBC can now nominate two directors to the board, the RBI's approval specifies that the Japanese bank will not be treated as a "promoter" of Yes Bank, meaning it will not have control over its day-to-day operations.Read more

26 Aug 2025

In separate exchange filings, Reliance Power and Reliance Infrastructure have clarified that the recent CBI action against Reliance Communications (RCom) and its former director, Anil Ambani, does not affect their business. Both companies stated that they are distinct and independent entities with no business or financial links to RCom. The clarification comes after the CBI registered a INR 2,929 crore bank fraud case and conducted searches at RCom's premises and Ambani's residence. The companies also noted that Ambani has not served on the board of Reliance Power for over 3.5 years, further reinforcing their separation from the ongoing legal issues of RCom.Read more

26 Aug 2025

Microsoft India (R&D) has secured a significant office lease in Hyderabad's financial district, occupying 264,000 square feet at Phoenix Centaurus. The five-year agreement, effective from July 2025, involves a base rent of INR 1.77 crore per month, escalating annually by 4.8%. The total monthly outgo, including additional expenses, amounts to INR 5.4 crore. This expansion underscores Microsoft's commitment to enhancing its research and development capabilities in India, particularly in Hyderabad's thriving tech ecosystem.Read more

26 Aug 2025

The Central Board of Direct Taxes (CBDT) has proposed enhanced measures to tackle benami real estate transactions. A recently submitted report recommends granting tax officials access to Aadhaar data, state property registries, and vehicle records to identify 'dummy directors' in shell companies. The panel also suggests amending laws to allow confiscation of assets linked to benami properties when the actual beneficiaries cannot be traced. These steps aim to address existing legal loopholes and strengthen enforcement against illicit property dealings.Read more

25 Aug 2025

Bengaluru-based Brigade Group has secured a nine-acre land parcel in Chennai's IT corridor on a 55-year lease from YMCA. This strategic acquisition in the OMR (Old Mahabalipuram Road) area provides the company with a significant development potential of 1.6 million sq ft. The company plans to build a Grade-A office complex and a 200-key JW Marriott hotel, strengthening its commercial and hospitality footprint in Chennai. This move capitalizes on the city's robust real estate market, which is experiencing growth fueled by infrastructure development and high demand for both commercial and residential properties in the IT sector. The project is a key part of Brigade's expanding presence in the region.Read more

25 Aug 2025

Wipro has announced the acquisition of HARMAN's Digital Transformation Solutions (DTS) business unit for up to USD 375 million. The all-cash transaction will see more than 5,600 DTS employees from 14 countries, including key leadership, transition to Wipro. The acquisition is designed to enhance Wipro's AI-powered digital engineering capabilities and will be followed by a multi-year strategic agreement with HARMAN and Samsung, opening new avenues for joint innovation and growth. This deal, one of Wipro's largest in the ER&D space, is expected to close by December 31, 2025, subject to regulatory approvals.Read more

25 Aug 2025

India's 28 listed real estate companies collectively achieved record sales bookings of nearly INR 53,000 crore during the April-June quarter of the current fiscal year, signaling a strong revival in the housing market. The stellar performance was led by Prestige Estates and DLF Ltd, which, with sales of INR 12,126 crore and INR 11,425 crore respectively, accounted for nearly half of the total. A notable trend from the data is a clear "flight to quality," as the top five branded developers cornered 71% of the total sales, reflecting a post-COVID preference among homebuyers for trusted, large-scale builders.Read more

25 Aug 2025

The Delhi Development Authority (DDA) has initiated an e-auction for more than 200 premium properties, including function sites, kiosks, cafés, and mobile tower locations, to provide additional event spaces during the upcoming festive season. Registration for the auction began on August 26, with e-auctions scheduled to commence on September 30. The properties are offered on a license-fee basis for periods ranging from 10 to 12 months, with a mix of newly identified and reclaimed sites available for various commercial ventures across Delhi.Read more

25 Aug 2025

Brigade Enterprises added 10 million sq ft to its land bank in the June quarter, with an estimated revenue potential of INR 11,200 crore. The company continues to focus on Tier-1 southern markets Bengaluru, Chennai, and Hyderabad where it sees significant growth opportunities. While sales bookings improved in value terms due to higher realisations, booked volumes declined. The company also reported strong financial results with sharp profit growth and higher income. With a strong pipeline, Brigade remains focused on steady expansion in its core markets.Read more

25 Aug 2025

Centrum Capital Ltd has announced the divestment of its entire stake in its affordable housing finance business, Centrum Housing Finance Ltd (CHFL), to new-age lender Weaver Services for INR 430 crore. The sale, which is subject to regulatory and shareholder approvals, is a strategic move for Centrum to streamline its operations and focus on its core businesses. For Weaver Services, an entity backed by prominent investors like Premji Invest, Lightspeed Ventures, and Gaja Capital, the acquisition provides a crucial entry point into India's booming affordable housing finance market.Read more

24 Aug 2025

Lowe's has confirmed an agreement to acquire Foundation Building Materials in a USD 8.8 billion deal, continuing its focus on professional builders and contractors. The distributor operates more than 370 outlets across North America and supplies around 40,000 pro customers. This follows Lowe's acquisition of Artisan Design Group earlier this year and reflects its broader "Total Home" strategy. With the new deal, Lowe's has raised its full-year sales outlook and reported stronger-than-expected quarterly earnings, signaling a deeper push into the professional construction segment.Read more

24 Aug 2025

US-based semiconductor firm Microchip Technology has acquired 1.72 lakh sq ft of office space in Whitefield,Bengaluru for INR 176 crore. The purchase, which includes two commercial blocks from Ascendum Solutions India Pvt. Ltd., marks one of the largest office space buyouts in the city this quarter. The deal, valued at approximately INR 10,230 per sq ft, underscores a growing trend of global tech companies consolidating and owning assets in India to support their long-term growth and expand their R&D footprint.Read more